Lyte Collective

Analysis

Lyte Collective is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lyte Collective reported income of $772k and spending of $810k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $698k to $772k (+11%), an average of +2.5% a year. The sharpest change came in the year to December 2022, when income rose by 36%. Over the whole period it spent 71% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lyte Collective sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within IL. Charities of a similar size with the same main cause include Great Beginnings Preschool and Child Development Center ($772k), Domestic Abuse Intervention Programs ($772k) and United Way of San Antonio and Bexar County Endowment and Legacy Fund ($772k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.2% of the total. Other salaries and wages came to $368k. At year end it held assets of $2.7m against liabilities of $410k, net assets of $2.3m. It reported 11 employees.